*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*
Thank you for your new question.So sorry to hear of this dilemma.If my answer is not clear to you or does not completely answer your question, please ask me for clarification by using the reply button.
You will not necessarily be forced to file bankruptcy The lender can file suit against you to collect the deficiency on the mortgage. You can file suit against your former spouse for reimbursement.Here is why.The divorce decree states the rights between the spouses as to which spouse will make the payments on the joint debt. However it does not affect the right of the creditor to collect from either spouse.Section 523 of the Bankruptcy Code excepts from discharge both property settlements and support obligations in Chapter 7 bankruptcy. However money to be paid as part of Marital Property Settlement Agreement would be dischargeable in a Chapter 13 bankruptcy. Money in the form of spousal support is considered a Domestic Support Obligation and thus it is not dischargeable in a Chapter 7 or Chapter 13 bankruptcy. You can read the Code here:http://www.law.cornell.edu/uscode/html/uscode11/usc_sec_11_00000523----000-.html
Our divorce agreement states he is responsible for 2/3 of the house and me 1/3. There also is a line in there stating that bankruptcy will not affect any of our agreements, but my lawer said that wont hold in court.
So even though he is cleared from the house in his bankrupcty, I can still get that money from him? I guess I dont understand how he can be responsible for thsi if he is cleared from it
He does not owe me any spousal support although he was suppose to take 16K of my credit card debt adn give me part of his stocks, but my lawyer states I cant get that now bc he claimes bankruptcy.
I suggest that you meet with a bankruptcy attorney locally as the information that your divorce attorney has given you is not correct.You can read the Code here:http://www.law.cornell.edu/uscode/html/uscode11/usc_sec_11_00000523----000-.html
Here is a link to a free legal referral site that may assist you in locating competent local counsel: www.Martindale.com
Best wishes for a Happy and Healthy New Year!
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).